Latest update from The Digital Insurer Library

Published: Fri, 11/23/18

Introducing the new Digital Insurer Library Editor

Pádraig Floyd

Digital Insurer Library Editor

psafloyd@gmail.com

There’s never a dull moment in the InsurTech space and this month is certainly no different.

The World Insurance Report from Capgemini gives a fascinating insight into how far InsurTech has come and how it is set to develop. We’ve focused on a section that highlights the potential challenges traditional companies, but also InsurTechs will face in the next stage of the market’s development. It is clear that the new entrants are not just about eating the big boys’ lunch. Collaboration is not only a fruitful way to consider developing their businesses, but a potential route to a bigger market for all to share.

Next we look at some highlights from CB Insights’ Unpacking The Insurance Tech Landscape. It shows there is considerable investment being made in developing innovative technologies as well as shoring up legacy processes, and that reinsurers are driving much of this forward.
Fintech Global records the vast sums that are going in to wealthtech this year and the shift from micro funding sub US$10 million, to medium and large sized deals.

PWC looks at how the use of analytics must be balanced with building trust with customers.

Meanwhile The Geneva Association raises some potential social implications for the rise of big data and how the insurance market will exploit analytics. Its paper highlights the need for trust when dealing with data and looks at a potential backlash against intrusive data collection and usage if the industry gets this wrong.

Our next papers focus on Asia. The first, from Willis Towers Watson showcases the potential for the region to be the primary incubator for InsurTech. The second, from Swiss Re, looks at the huge – and growing – healthcare gap in the Asian market and how InsurTech can help consumers to fill it.

Finally, we have two papers that look at the insurance market in India. The first, by Pahle India Foundation examines the market now and outlines how far insurers must go in order to reform a largely dysfunctional market. The other, by Deloitte, looks at the future and how the Indian market can benefit from insurtech if the industry looks to what is working in other markets and builds upon the good work that is already being done.

Enjoy the edition.

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Featured Report

Redefining Insurance: The future ahead

This is the second of two insurance focused papers concentrating on the innovation that is already taking place in India. It acknowledges the growing population increases the opportunity, but insurance penetration is still only around 4%, though expected to grow to US$280 billion by the end of 2020.

Read report summary here

Overview Of The Indian Insurance Sector and Opportunities In InsurTech

The health protection gap in Asia: a modelled exposure of USD 1.8 trillion

Legacy-free markets in Asia are becoming InsurTech incubators

Big Data and Insurance: Implications for Innovation, Competition and Privacy

Analytics in Insurance: Balancing Innovation and Customers’ Trust

Global WealthTech investment reaches record levels in 2018

Unpacking The Insurance Tech Landscape

InsurTech is transformative, but faces its own challenges

Latest updates

1. The Digital Insurer Global LIVEFEST 2018 Africa virtual conference is TODAY - Join the Event Now!

After a successful North American, European & Asian/ANZ launch event we move to our fourth regional LIVEFEST virtual conference, this time for Africa. The event is a 100% digital mix of fast-paced panel sessions, Q&As, Awards and more. Registration is free - follow the link to see the Africa agenda infographic and join us now!

Join now and see the agenda here

2. Digital Germany - New Quarterly Newsletter launches

TDI News Correspondents Uli Kleber, Frank Genheimer and Lorena Meles bring you the first German InsurTech quarterly newsletter with a look at the evolution of life insurance, a spotlight on InsurLab Germany and interviews with digital innovation academics Dr Christoph Peter and Dr Moritz Finkelnburg. Make sure to check it out.

3. InsurTech Insights: Cyber security – Implications for the insurance industry

This month’s InsurTech Insights looks at cyber security and its implications for the insurance industry. Vincent Maret, KPMG Head of Cyber Security Services, provides a good overview on how a variety of different corporates are handling the cyber threat, while Rick Huckstep, in his article, reminds us how cyber cannot be viewed and treated by (re)insurers like other more traditional lines of insurance.

4. Cyber security webinar – Register now

Join our webinar on Wednesday, 5th December 2018, 10am (EST), 3pm (UK time) 11pm (HK/SG time) and hear Will Pritchett, KPMG, Les Wong, The Digital Insurer, Kyle Bryant, Regional Cyber Risk Manager for Europe, Chubb (pictured), Michael Fitzgibbon, Chief Underwriting Officer, Slice and Darren Craig, NorthDoor discuss cyber security and its implications for the insurance industry.

5. China in Focus - China's Tech giants part one: Alibaba

This month we have the first in series on China’s BAT – the tech giants Baidu, Alibaba, Tencent, and consider the digital insurance activities currently underway at Alibaba which has amassed more than 500 million active users and has now initiated a range of digital insurance efforts. This month we also introduce a video format for the series with Swiss Re’s Yannick Even discussing the edition with the TDI team.

Read and watch more

6. Register now - New solutions for prevention and management of diabetes and other chronic diseases

Join our webinar on Wednesday, 12th December 2018, 3am (EST), 8am (UK time), 4pm (HK/SG time) and hear an experienced, global panel of insurance professionals, including Sohila Kwan, Director, Head of Health & Medical Solutions, Asia, Swiss Re (pictured) discuss ‘New solutions for prevention and management of diabetes and other chronic diseases’.

7. Read the latest Newswire updates

Keep up to date with all the latest global digital insurance news via our Newswire. Check out all this week's articles below, and follow us on Twitter @DigitalInsurer for daily updates.

View This Week's News

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